Business classification systems are “Dewey Decimal” numbering systems for companies. Many databases and directories arrange listings by classification codes. Finding your business's classification code can help you find information sources specific to your business as well as information on your competitors. 

Standard Industrial Classification (SIC) codes and North American Industry Classification System (NAICS) codes are numerical classification systems created by the United States government. These systems are used to group/classify similar companies into industries for the purposes of collecting, analyzing, and publishing statistical data related to the U.S. business economy. 

The SIC system was originally developed in the 1930s and was last updated in 1987. The NAICS system was first released in 2002 and last updated in 2017. While NAICS has "officially" replaced SIC, many business directories and databases still use one or both of the systems. Therefore, it is important to know about both SIC and NAICS. 

You can use these codes to find information about industries in business databases and directories. Use the codes to: 

• Identify types of business and companies

• Identify competitors in the industry

• Locate industry ratios to compare with the company's ratios

• Generate listings of companies within an industry

• Find articles and current news about an industry by searching classification codes

SIC codes consist of four digit numbers that apply to a company based on the type of products or services it produces.​

Example:  5812 = Eating Places

The North American Industry Classification System (NAICS) employs six digits to allow for greater specificity for classifying an industry. ​

Example:  722110 = Full Service Restaurants